Watch This Trade Level For Procter & Gamble (PG)

One of the leading consumer goods stocks is Procter & Gamble Co (PG). Last year, the stock was a major winner topping out in early November at $146.92 a share. Since that pivot high, the shares have declined to the $130.00 area. Today, the shares are being defended around the 200-day moving average. A daily chart close below this key moving average will likely signal a further decline for the stock.

The next major support level for Procter & Gamble co (PG) stock will be around the $121.00 area. This is where the stock will have a major retrace level from the March 2020 lows to the November 2020 top. It is also an area where the stock broke out in July 2020 from a 3-month sideways consolidation base. When stock backtests a former breakout area they will usually be defended by the institutional crowd. This should be the case for Procter & Gamble Co (PG) stock.

(Click on image to enlarge)

Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.